Madrona leads $4.9M round for Stratify, a new fintech startup that aims to automate budgeting – GeekWire

Ex-Docker CFO heads up new Seattle finance startup Stratify, with Concur founder as chairman – GeekWire

Ex-Docker CFO heads up new Seattle finance startup Stratify, with Concur founder as chairman – GeekWire

Stratify CEO Brian Camposano. (Madrona Venture Labs Photo)

Former Docker executives Brian Camposano and Steve Singh are behind a stealthy new Seattle-based fintech startup called Stratify.

The company just spun out of Seattle startup studio Madrona Venture Labs (MVL), where Camposano was an entrepreneur-in-residence since March.

Camposano, the former Docker CFO, is the lone employee at Stratify. The company is in its earliest stages and does not have a live website. Camposano said its vision is to “reinvent Strategic Finance, utilizing machine learning and artificial intelligence to provide companies unparalleled real-time insights.”

Here’s more info about the company from a job posting for a CTO:

Our mission is to make intelligent technologies accessible to corporate finance professionals, to empower them to become strategic leaders for their companies.

Technology and software for corporate finance, much of which is still built on dated infrastructure, has lagged behind other industries. Up until now, CFOs, FP&A professionals, and business analysts have not been able to leverage real-time data at scale and machine learning, as other fields have, to increase the speed and depth of their analysis, and to drive better decision-making.  Our products aim to change that.

Camposano is a finance veteran, having worked at Deutsche Bank for 12 years before joining Concur, the travel expense giant that sold to SAP for $8.3 billion in 2014.

Steve Singh at the 2017 GeekWire Cloud Tech Summit. (GeekWire Photo / Kevin Lisota)

Singh is chairman at Stratify. He and Camposano have crossed paths multiple times. Singh helped start Concur back in 1993 and led the company until 2017, before joining Docker as CEO in May 2017. Camposano arrived at the software startup a few months later.

Now they’ve reunited again. Singh joined Madrona Venture Group, which created MVL, as managing director this past January.

“I believe the category that Stratify is focused on is a critical service to every business in the world,” Singh told GeekWire via email.

Singh noted that Camposano is the eighth Concur veteran to lead a company as CEO, joining others including Rajeev Singh (his brother and Concur co-founder), Elena Donio, Christal Bemont, and others. “Would love to see that number get to 20,” Singh wrote in a LinkedIn post. “The talent pool is certainly there.”

Camposano said Stratify aligns with Madrona’s vision for next-generation, intelligent enterprise applications. The venture capital firm last year invested in revenue operations software startup Clari and led a $10 million round for cash flow analysis startup Tesorio.

Camposano said the economic crisis hasn’t had much effect on Stratify.

“The pace of customer discovery calls and discussions with early stage institutional investors has been fantastic,” he told GeekWire. “We’re getting positive feedback from prospects and have begun identifying pilot customers.”

The pandemic has affected VC-backed fintech funding, which dropped to $6.1 billion across 404 deals in the first quarter, the lowest levels in three years, CB Insights reported.

Madrona has made an effort to invest in fintech companies and expand Seattle as a fintech hub.

Other recent MVL spinouts include Zeitworks, led by Seattle startup veterans Ryan Windham and Ben Elowitz, and Simplata, a data security startup led former BMW ReachNow CEO Steve Banfield and former Domain Tools CTO Bruce Roberts.

MVL raised its third fund last year with plans to launch up to a dozen new startups.

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